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Tesla's stock selloff messes up Elon Musk's big week

Emergence of competing electric vehicles, lingering concern, sent Tesla's stock 13% down this week

Dana Hull | Bloomberg 

This was supposed to be Elon Musk’s big week, capped by Tesla’s first Model 3 sedan rolling off the assembly line. Instead, shares that had been riding high in anticipation of his most consequential car yet are poised for their worst week in almost a year and a half. A troublesome quarterly sales report, the emergence of competing electric vehicles from the likes of Volvo Car Group and lingering concern about Tesla’s ability to mass produce have sent its stock down 13 per cent this week. Modest gains in Friday trading still have left the shares on course for ...

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First Published: Sun, July 09 2017. 01:10 IST